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of <h1>Parashwanath Housing Finance Approved by Central Government as Housing Finance Company Under Section 36(1)(viii), IT Act 1961</h1> M/s. Parashwanath Housing Finance Corporation Limited in Ahmedabad has been approved by the Central Government as a housing finance company under section 36(1)(viii) of the Income-tax Act, 1961. This approval applies to the assessment years 1995-96 and 1996-97. The company must adhere to the provisions of section 36(1)(viii) and ensure that at least 75% of its investible funds are used for providing long-term housing finance for residential purposes.
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